NerdWallet has dropped an S-1, all but solidifying that it will go public barring any last minute surprises.
The SF-based company, which produces financial management content that funnels users to its spend management products, “had revenue of $181.6 million. In the six month period ended June 30, 2020, the company said it had revenue of $137.3 million,” according to MarketWatch.
It will be trading under the ticker symbol “NRDS,” and according to sources who spoke to Yahoo! Finance, NerdWallet is seeking a $5 billion valuation. Its last known valuation as a private company was $505 million as part of its $5 million Series A announced in 2015 (eons in startup time).
Unlike most fintech companies going public, NerdWallet may be trickier for investors to grok. It is, in many ways, not so different from any other media company that kicks out content. It’s incredibly reliant on Google to succeed. So reliant, in fact, NerdWallet points it out in its “Risk Factors Summary” of the S-1.
We’ll have a deeper analysis on NerdWallet’s S-1 on Monday. For now, take a look for yourself and send questions you want us to answer to [email protected].